SOAP OPERA “TAURON VS. SRK&MSP”: GRAND FINALE

Negotiations between RSG (SPV formed by Tauron) and Mines Restructuring Company (SRK), that were supposed to end with moving Brzeszcze mine to the RSG by the end of September, were suspended on Wednesday last week (for indefinite period). SRK declares, that cancelling the negotiations with tenderers will help all entities in making some further financial and legal analysis.

Brzeszcze, few months ago the black ship in Kompania Węglowa’s family is now a rope pulled both by Tauron and SRK over the conditions of this acquisition. In 2011 the mine was producing 1.9 million tons of coal, three years later – only 0.9, with the total loss accounted for 230 million PLN.

As a reaction to the above mentioned events, on Thursday Tauron’s Supervisory Board decided to (or rather was told to) dismiss its CEO Dariusz Lubera and two other vice presidents (Aleksander Grad and Katarzyna Rozenfeld). Relieving them from their duties was followed by resignation of another two VPs: Stanisław Tokarski and Krzysztof Zawadzki. The new Management Board will be led by Jerzy Kurella. Declarations by both new Tauron’s CEO and head of the MSP (Ministry of Treasury) Andrzej Czerwiński suggest, that the only reason of these changes was reluctant attitude of former MB towards taking over Brzeszcze.

On Monday media informed, that Kurella took the position of Tauron’s President despite the fact that he has a non-competition clause with PGNiG. Kurella quickly denied these rumors and stated, that as soon as he was proposed with the new job from Katowice-based energy group, he terminated his contract with PGNiG.

The new VPs that will help Kurella in finishing the MSP’s plan of moving Brzeszcze to Tauron Wydobycie are Henryk Borczyk and Michał Gramatyka. The first one was a CEO of Tauron Ciepło (Tauron’s subsidiary responsible for company’s heat&power plants in Dąbrowa Górnicza and Katowice), the second is a PO’s politician, who in the past worked in Enea.

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